Bitcoin Aiming for All-Time High in 2024, Predicts Top Analyst

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5 Feb 2024

Mushumir Butt
Michaël van de Poppe shares insights on upcoming Bitcoin halving event and market trends
News
Mon, 5/02/2024 - 13:30
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Crypto analyst Michaël van de Poppe, known for his insightful predictions, recently took to X (formerly Twitter) to share his thoughts on the future of Bitcoin (BTC). Van de Poppe's tweet has sparked excitement and intrigue among crypto enthusiasts, as he offered a glimpse into what may lie ahead for the world's most popular cryptocurrency.

Van de Poppe tweeted that the Bitcoin price was stuck in a range, and the markets were in equilibrium. He mentioned that he would be looking at the range-bound construction for the coming months and forecasted a prehalving final run toward $48,000, followed by consolidation before the breakout toward an all-time high in Q3/Q4 of 2024.

Bitcoin price rebound scenario

The next Bitcoin halving event is expected to take place in April 2024. Historically, these events have led to increased scarcity and a subsequent surge in Bitcoin's price. Van de Poppe's prediction aligns with the idea that Bitcoin's price could experience significant growth in the wake of the 2024 halving event.
Meanwhile, Bitcoin's current all-time high stands at an impressive $69,044, a record achieved in 2021. Van de Poppe's prediction suggests that Bitcoin could reach new heights surpassing this previous peak, which would undoubtedly attract the attention of investors and enthusiasts worldwide.
As of the latest available data, the current price of Bitcoin is $43,088, reflecting a 0.23% increase in the last 24 hours. Furthermore, Bitcoin's 24-hour trading volume has seen a notable uptick, surging by 20.81% and currently standing at a substantial $15,587,716,556. These statistics indicate renewed interest in Bitcoin trading activity.
CoinGlass data reveals that open interest in Bitcoin has seen a significant increase of 3.56%, currently standing at $18.19 billion. Notably, leading exchange Binance holds the lion's share of this open interest at $3.39 billion, followed closely by Bybit at $2.58 billion, and Bitget at $1.16 billion. This signifies the growing interest of institutional and retail investors in Bitcoin.

Overall, the community is eagerly anticipating the potential for Bitcoin to reach new heights in 2024. Michaël van de Poppe's prediction of a prehalving surge to $48,000 and an eventual breakout toward an all-time high in late 2024 has sparked excitement and optimism among Bitcoin enthusiasts.
#Bitcoin Price Prediction #Bitcoin Price #Bitcoin News
About the author
Mushumir Butt
With over three years of immersive experience in the crypto industry, Mushumir is a seasoned crypto writer dedicated to unraveling the complexities of blockchain technology and decentralized finance. From dissecting the latest blockchain innovations to demystifying trading strategies, he brings a unique blend of technical insight and communicative flair to the crypto space. Having penned countless articles, analyses, and market reports, Mushumir has developed a distinctive voice that resonates with both seasoned investors and crypto newcomers alike.
2024/02/05 13:27
Chainlink (LINK) Price Goes Parabolic as Whales Accumulate Aggressively
Gamza Khanzadaev
2024/02/05 13:27
stETH Whale Attacked by Hackers, Substantial stETH Amount Lost
Yuri Molchan

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Chainlink (LINK) Price Goes Parabolic as Whales Accumulate Aggressively

Gamza Khanzadaev
LINK price skyrockets as big players scoop up millions of Chainlink tokens
News
Mon, 5/02/2024 - 12:58
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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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In a surprising turn of events, the cryptocurrency market witnessed a significant surge in the Chainlink (LINK) price today as whales and institutions aggressively accumulated substantial amounts of the token. Spot On Chain reports indicate a series of massive transactions on Binance, suggesting a deliberate effort by a single entity or institution to accumulate LINK.

Related
Chainlink (LINK) Soars 14%, Keep Eye on These 3 Metrics
A staggering 227,350 LINK, valued at $4.12 million and averaging $18.1 per LINK, was withdrawn from Binance across eight fresh wallets. Notably, these wallets exclusively contained LINK tokens, hinting at a focused strategy to accumulate this particular cryptocurrency.

Are institutions accumulating $LINK?

In the past 3 hours, 8 fresh wallets (likely one individual/institution) have jointly withdrawn 227,350 $LINK ($4.12M) at ~$18.1.

Notably, most of these tokens were withdrawn from CEX before the price abruptly jumped by ~4.1% just now.

Will… pic.twitter.com/jVYL0nXw5N
— Spot On Chain (@spotonchain) February 5, 2024

What adds intrigue to this situation is the timing of the withdrawals. Most of the LINK tokens were pulled from the exchange just before the price experienced a sudden 7% jump. Starting the day at $18.15 per token, LINK soared to an impressive $19.42 per token, marking a 35% increase over the past week and setting a bullish tone for today's (Monday) trading session.

LINK aims for top 10

Chainlink, already a heavyweight on the cryptocurrency market with a market value estimated in the billions, witnessed a remarkable addition of $3.5 billion in just one week. The aggressive accumulation by whales and institutions appears to have fueled this parabolic rise in the LINK price.
Chainlink's Market Cap by CoinMarketCap
Related
Enormous Chainlink (LINK) Buying Activity Here: Reversal Imminent?
The strategic move to withdraw substantial amounts of LINK just before the price surge raises questions about the anticipatory skills of these entities and their potential influence on the market. The crypto community is eagerly watching to see how this aggressive accumulation by whales will impact Chainlink's trajectory in the near future.
#Chainlink #Chainlink (LINK) News #Cryptocurrency Whales
About the author
Gamza Khanzadaev
Financial analyst, trader and crypto enthusiast.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.
He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.
2024/02/05 12:55
stETH Whale Attacked by Hackers, Substantial stETH Amount Lost
Yuri Molchan
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stETH Whale Attacked by Hackers, Substantial stETH Amount Lost

Yuri Molchan
As result of hacker's attack, anonymous whale lost almost quarter million USD worth of stETH
News
Mon, 5/02/2024 - 12:35
Cover image via www.freepik.com
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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Contents

According to data published by PeckShieldAlert, anonymous cryptocurrency wallet 0xB2CB...0Ff7 has been hit by a hacker who used a phishing scheme to steal 102.37 stETH from this crypto holder. This is the equivalent of approximately $236,000 in fiat.
This was reported on X/Twitter slightly more than an hour ago. This crypto loss is just a drop in the ocean, though, compared to the overall amount of cryptocurrencies stolen in this way since 2021.

#PeckShieldAlert #Phishing Address 0xB2CB...0Ff7 has fallen victim to a phishing scheme, resulting in a loss of 102.37 $stETH (worth ~$236K) pic.twitter.com/EDLni7gasy
— PeckShieldAlert (@PeckShieldAlert) February 5, 2024

Millions of USD in Chainlink lost to hackers

Phishing attacks are a popular tool leveraged by cyber criminals for stealing cryptocurrencies from users. Roughly in late December, a Chainlink whale lost a whopping $4.42 million worth of LINK, which he had acquired between June 2022 and October 2023 – 275,700 LINK tokens.
According to the @lookonchain tweet, the unfortunate crypto whale accidentally clicked on a phishing link and was tricked into approving a transaction to lose all of their crypto. From the above-mentioned $4.42 million worth of LINK that they lost, half was the actual amount of LINK ($2.26 million), and the other half ($2.4 million) was the unrealized profit he had made on that crypto.
Related
Important Bitcoin Statement Made by Crypto Capital Venture CEO Ahead of Halving

$1 billion USD in crypto stolen in phishing attacks

A report published by Chainalysis stated that since 2021, phishing scams have managed to steal at least a staggering $1 billion worth of crypto from the cryptocurrency space. According to the report, in 2022 alone, users lost more than half a billion U.S. dollars worth of crypto in phishing attacks.
In late fall of 2023, the amount of cryptocurrencies stolen in this way stood at $374.6 million, as a large number of holders was tricked into approving crypto transactions without realizing it.

Ethereum heading for $4,000?

Popular crypto YouTuber Lark Davis recently commented on the recent prediction made by the Standard Chartered banking behemoth as it expects the second-largest cryptocurrency by market capitalization, Ethereum, to surge back to the $4,000 level by May 23.
This is the date when the cryptocurrency community expects the SEC regulator to issue a positive decision on spot Ethereum ETFs filed for by BlackRock and Grayscale. Davis stressed that after this approval, DOGE and SOL ETFs may emerge, potentially by the end of 2024.
#Ethereum #Cryptocurrency Whales
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.
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